Adq-Backed Abu Dhabi’s Ad Ports Raises $1B Before Public Market Debut
02/07/22, 12:41 PM
Money raised
$1 billion
Abu Dhabi’s AD Ports Group, owned by sovereign wealth fund ADQ, said it raised 4 billion dirhams ($1.1 billion) in proceeds from its primary issuance and would list its shares on the bourse on Tuesday.
Company Info
Additional Info
AD Ports Group, which operates ports, logistics and industrial zones, said the funds raised would be used to grow organically and via acquisitions, as the company plans to expand both locally and internationally. AD Ports Group’s shares are set to trade on Tuesday on the Abu Dhabi Securities Exchange under the ticker symbol ADPORTS, the company said in a statement.